Analytics as a Service Market Trends, Size and Segments by Forecast to 2023


Market Highlights:
The analytics services forms a basic framework of the analytical capabilities of any system. Analytics as a service works as an extensible platform necessarily working through cloud-based deployment by which various analytical tools (predictive and prescriptive) are restructured by the end-user to process efficiently and interpret huge volume of heterogeneous data. Through this extensible platform, the end-user can store the information onto the platform and also allows the retrieval of the relevant analytical insights.

The analytical insights are designed, developed and execute critical applications which enable to organize actual data analytical operations.

The analytical operations are developed by using an expandable collection of services that use an analytical algorithm which is mostly based on deep learning and machine learning concepts.  The driving factors for the growth of analytical services include the increasing awareness of internet of things (IoT) among the business enterprises and surging adoption of social media application.  However, a huge demand for a large volume of data that required to be stored and efficient interpretation are presumed to gain a huge popularity over the forecast period. Furthermore, Analytics as a service offers various advantages such as predictions based on experiences and capabilities to identify the patterns, which are expected to develop a huge demand for the market over the next few years.

On the flipside, advanced techniques based on analytical techniques such as machine learning are complex and require a specific set of skills. Thus, lack of domain-specific expertise is expected to be one of the challenges for the analytics as a service market over the next few years.

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Major Key Players:
·         IBM Corporation (U.S.)
·         Oracle Corporation (U.S.)
·         1010 Data Inc. (U.S.)
·         Hewlett-Packard Enterprise (U.S.)
·         Google Inc. (U.S.)
·         Amazon (U.S.)
·         EMC Corporation (U.S.)
·         Hitachi, Ltd. (Japan)
·         SAS Institute (U.S.)
·         Good Data Corporation (U.S.)
·         Cloudera, Inc. (U.S.)

Segmentation:
·         The Analytics as a Service Market is segmented into the component, analytics type, deployment, organization size, and end-user.
·         By Component, the market is classified as solutions and services. The solution segment is categorized into financial analytics, risk analytics, customer analytics, marketing analytics, sales analytics, web and social analytics, supply chain analytics, network analytics, and others
·         By service, the segment is further is categorized into consulting, managed service, and support & maintenance. The Analytics type is segregated into predictive, prescriptive, diagnostics, and descriptive. The deployment segment is divided into public, private, and hybrid. On the basis of organization size, the market is classified as large enterprises and small and medium enterprises. .
·         Lastly, the Analytics as a Service market is sub-segmented into end user which BFSI, retail & E-commerce, government, healthcare & life sciences, manufacturing, IT & telecom, energy and utility, travel & hospitality, transportation and logistics, media & entertainment, and others.

Regional Analysis:
Geographically, the Analytics as a Service market is categorized into four different regions such as North America, Asia Pacific, Europe, and the Rest of the World.

North America is presumed to have significant growth in the Analytics as a Service market. The U.S and Canada are the leading countries in the region. The U.S is expected to gain the largest market share. This is due to the presence of a large number of solution providers in the country. Asia Pacific countries such as Japan, India, and China are also anticipated to be the fastest growing region in the Analytics as a Service market over the forecast period. This is attributed to evolution and development of big data in the region. Additionally, increase in a number of social media applications has eventually increased the implementation of data analytics tools and is expected to drive the growth of the market over the review period.

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Target Audience:
  • IT Services Providers
  • Consulting Services Providers
  • Network Service Providers
  • Cloud Services Providers
  • Internet Services Providers (ISPs)
  • Enterprises
  • End-Users.

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